Saraza Management, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Saraza Management, LP reported 17 stock positions worth $358.6 million. Its top holding was Intl Flavors & Fragrances (IFF) at 12.1% of the portfolio, followed by Capital One Financial (COF, 7.7%) and Aon Class A (AON, 7.5%). Compared with Q3 2024, it opened 7 new positions, sold out of 7, added to 6 and reduced 2. The biggest buy was a new position in Capital One Financial (COF) and the biggest sale an exit from Booking (BKNG).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001894188
- Portfolio Value
- $358.6M (Q4 2024)
- SEC Filing
- 0001894188-25-000003 ↗ filed Feb 13, 2025
Holdings Value
Holdings 17 stocks · $358.6M
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 12.14% | 515,000 | $43.5M | No change |
| COF Capital One Financial Corp. | 7.71% | 155,000 | $27.6M | New |
| AON Aon PLC Class A | 7.51% | 75,000 | $26.9M | Add +25.0% |
| GE General Electric filed as GE AEROSPACE | 7.21% | 155,000 | $25.9M | Add +60.6% |
| MSFT Microsoft Corp. | 6.93% | 59,000 | $24.9M | Add +31.1% |
| TSM Taiwan Semiconductor-SP ADR | 6.47% | 117,500 | $23.2M | Add +9.3% |
| AMZN Amazon.com Inc. | 6.36% | 104,000 | $22.8M | Reduce -44.5% |
| ICE Intercontinental Exchange Inc. | 6.23% | 150,000 | $22.4M | No change |
| V Visa Inc. Class A | 6.17% | 70,000 | $22.1M | Reduce -24.3% |
| EXPE Expedia Group Inc. | 5.71% | 110,000 | $20.5M | New |
| INTU Intuit Inc. | 5.52% | 31,500 | $19.8M | Add +10.5% |
| CPNG Coupang Inc. | 5.33% | 870,000 | $19.1M | New |
| TRU Transunion | 5.17% | 200,000 | $18.5M | Add +23.8% |
| WDAY Workday Inc. Class A | 4.06% | 56,375 | $14.5M | New |
| APH Amphenol Corp. Class A | 3.97% | 205,000 | $14.2M | New |
| GWRE Guidewire Software Inc. | 1.88% | 40,000 | $6.7M | New |
| UAL United Airlines Holdings Inc. | 1.62% | 60,000 | $5.8M | New |
Portfolio Sells Q3 2024 → Q4 2024
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −6.10 |
| FMX Fomento Economico Mex-SP ADR | Sold out | 0.00% | −5.07 |
| ATI Ati Inc. | Sold out | 0.00% | −4.84 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −4.24 |
| AMZN Amazon.com Inc. | Reduce -44.5% | 6.36% | −3.75 |
| AL Sumisho Air Lease Corp. | Sold out | 0.00% | −3.54 |
| CPRT Copart Inc. | Sold out | 0.00% | −2.58 |
| QXO Qxo Inc. | Sold out | 0.00% | −1.23 |
| V Visa Inc. Class A | Reduce -24.3% | 6.17% | −1.19 |
Portfolio Buys Q3 2024 → Q4 2024
| COF Capital One Financial Corp. | New | 7.71% | +7.71 |
| EXPE Expedia Group Inc. | New | 5.71% | +5.71 |
| CPNG Coupang Inc. | New | 5.33% | +5.33 |
| WDAY Workday Inc. Class A | New | 4.06% | +4.06 |
| APH Amphenol Corp. Class A | New | 3.97% | +3.97 |
| GE General Electric | Add +60.6% | 7.21% | +1.94 |
| GWRE Guidewire Software Inc. | New | 1.88% | +1.88 |
| UAL United Airlines Holdings Inc. | New | 1.62% | +1.62 |
| AON Aon PLC Class A | Add +25.0% | 7.51% | +1.50 |
| MSFT Microsoft Corp. | Add +31.1% | 6.93% | +1.33 |
| TSM Taiwan Semiconductor-SP ADR | Add +9.3% | 6.47% | +1.07 |
| INTU Intuit Inc. | Add +10.5% | 5.52% | +0.40 |
| TRU Transunion | Add +23.8% | 5.17% | +0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 18 | $238.9M | V, TSM, COF, AON, BN |
| Q1 2026 | 20 | $238.6M | V, AON, BN, WCN, COF |
| Q4 2025 | 15 | $259.0M | V, AON, MSFT, BN, AMZN |
| Q3 2025 | 14 | $280.7M | TSM, MSFT, AMZN, COF, BN |
| Q2 2025 | 18 | $414.0M | INTU, BN, AON, COF, ATI |
| Q1 2025 | 21 | $328.3M | BN, WST, DHR, COF, MSFT |
| Q4 2024 | 17 | $358.6M | IFF, COF, AON, GE, MSFT |
| Q3 2024 | 17 | $345.4M | IFF, AMZN, V, ICE, BKNG |
| Q2 2024 | 12 | $300.4M | IFF, FMX, AMZN, ICE, V |
| Q1 2024 | 14 | $385.4M | IFF, FMX, AMZN, ICE, CSX |